Use of Annuities to Fund Future Medical Costs for Legacy WC Claims

We have since the mid-1970's been a strong proponent of using annuities as a tool to bring long term medical WC claims to resolution as well as the classical application for catastrophic liability injury claims. Driving the use of annuities has not been without challenges, many stakeholders in the process are hesitant to go to the extra work of working with an annuity broker and craft a settlement that includes a lump sum, funding for an annuity, a schedule of payments from the annuity, establishing a medical trust (we were doing this a decade before the Medicare Secondary Payer ("MSP") laws began to be observed and implemented), and crafting settlement documents that provide sufficient protection for all parties involved.

Fortunately, some of the WC industry is beginning to recognize that at least for long term medical claims annuities can be an effective way to fund the medical care and bring the WC claim to resolution. Here is an example: http://blog.reduceyourworkerscomp.com/2013/03/structured-settlements-can-resolve-legacy-claims-burden/?utm_source=rss&utm_medium=rss&utm_campaign=structured-settlements-can-resolve-legacy-claims-burden

One of the most experienced and ethical professionals in the business is Jane Riley-Pugh. We have worked with Jane on claims with exposure as small as $10,000 up to well over $5,000,000. If you need an annuity professional to assist in your investigation of a settlement, or help getting it done, contact Jane at http://www.rileypugh.com/, (714) 836-4200.